BDSTX Wholesale Liquidation Auctions
1. To bid on our website, you must first register a free user account. The purpose of this is to ensure that only “real” customers participate in auctions. Following registration, you will be able to bid on auctions on the website.
2. It’s time to start finding trucks, pallets, and inventory you want to bid on.
3. Once you narrow things down a bit, it’s time to scan the results for opportunities. Do you have a business model that accommodates smaller quantities or pallets and truckloads? Having made your decision, you can start exploring the auction listing pages to find out more.
4. After conducting market research, you should determine a maximum bid price you feel comfortable bidding on the auction listing. Since we use a proxy bidding algorithm, you should enter your maximum bid price. This does not mean you will have to spend that much to win the lot. The following will happen after you enter your maximum bid in the bid box:
- You will see the message “Reserve price has not been met” if you are the highest bidder, but your maximum bid does not meet the reserve price. The reserve price will not be met, so even if you are the highest bidder at the end of the auction, you will not win the merchandise. You will need to decide if your budget allows you to increase your bid if you want to win that auction.
- It is your current bid that will be set to the reserve price of the auction if you are the highest bidder. Your maximum bid is higher than the reserve price. When the auction closes and no other bidders have taken action on the listing, you will win at the reserve price, NOT your maximum proxy bid. The reserve will be won, not your maximum bid. Yes, you read that right. By doing this you can put in your MAXIMUM bid and then walk away. If you have put in your most competitive offer, there is no need to bid again. Our system automatically raises your bid when another bidder places a bid. Should another bid exceed your maximum proxy amount, you will be notified that your offer has been outbid, and you can decide whether to raise it or not.
- Your current bid will become the minimum start price for that listing if there is no reserve set after you enter your maximum bid. As long as no other bidders take action when the auction closes, you will win the bid at the minimum start price.
- A notification will be sent to you if you are the highest bidder and if the reserve price has been met (if a reserve price was set). Additionally, instructions will be provided on how to make your order payment. Credit card Visa, Mastercard, American Express, are all acceptable forms of payment. The checkout process also includes the option to choose the day and time you wish to pick up your winnings. The pick up times are from Monday to Saturday, 9:00am to 3:00pm. We offer direct freight to 50 States utilizing FedEx LTL Carriers. Upon winning the auction lot, customers must fill out shipping information and pay all remaining balances. All orders will come with real-time tracking and standard shipping updates. All states, *Except* (Puerto Rico, Alaska) are eligible for LTL Freight on truckload lots. For lots that are not eligible for shipping you must pick up all winnings within 3 days after winning a lot. Any unpicked items will be relisted, and the bidder will be charged a 30% restocking fee, as well as having their account permanently disabled.
- In the event that the reserve price has not been met, you will see a message on the screen that says “Reserve price not met”. This listing will close without a winner if there is no further bidding.
- The auction timer may be extended in some instances. Generally, this happens when someone bids close to the reserve price but the reserve has not been met. When this happens, our system will automatically extend the auction.
- Our system also uses a “popcorn bidding” feature to extend an auction in the final moments if a surge in bid activity is detected for that listing.
- The “buy now” option on some auctions allows you to purchase inventory without bidding. As soon as bidding activity surpasses the reserve price for the auction, this buy now option will disappear.